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Forwarded from The Golden Charcoal - UPSC/GPSC

FOR PRELIMS

What was the percentage growth in India's gross GST revenues in April compared to the previous highest tally?
A) 8.3%
B) 12.4%
C) 15.5%
D) 17.6%
Correct Answer: B) 12.4%

Which sector showed a rebound in revenues in April after a contraction in March?
A) Services
B) Manufacturing
C) Goods imports
D) Agriculture
Correct Answer: C) Goods imports

What was the primary use of the GST compensation cess collected in April?
A) To fund infrastructure projects
B) To repay loans taken during the pandemic
C) To boost foreign trade
D) To support startup ecosystems
Correct Answer: B) To repay loans taken during the pandemic

Which of the following states did NOT see a contraction in revenues in April?
A) Jammu and Kashmir
B) Tamil Nadu
C) Arunachal Pradesh
D) Gujarat
Correct Answer: D) Gujarat

According to the Finance Minister, what contributed to the record GST revenues in April?
A) Solely increased compliance by taxpayers
B) Decrease in tax rates
C) Strong economic momentum and efficient tax collections
D) Increase in export duties
Correct Answer: C) Strong economic momentum and efficient tax collections

The Golden Charcoal - UPSC/GPSC

Simplified Explanation

Record High GST Collections: India's GST collections exceeded ₹2.1 lakh crore in April, a 12.4% increase from the previous record.

Economic Momentum: This surge is attributed to strong economic performance and efficient tax collection…

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Create: 2024-05-03
Last Update: 2024-06-16 02:50:32

FOR PRELIMS

What was the percentage growth in India's gross GST revenues in April compared to the previous highest tally?
A) 8.3%
B) 12.4%
C) 15.5%
D) 17.6%
Correct Answer: B) 12.4%

Which sector showed a rebound in revenues in April after a contraction in March?
A) Services
B) Manufacturing
C) Goods imports
D) Agriculture
Correct Answer: C) Goods imports

What was the primary use of the GST compensation cess collected in April?
A) To fund infrastructure projects
B) To repay loans taken during the pandemic
C) To boost foreign trade
D) To support startup ecosystems
Correct Answer: B) To repay loans taken during the pandemic

Which of the following states did NOT see a contraction in revenues in April?
A) Jammu and Kashmir
B) Tamil Nadu
C) Arunachal Pradesh
D) Gujarat
Correct Answer: D) Gujarat

According to the Finance Minister, what contributed to the record GST revenues in April?
A) Solely increased compliance by taxpayers
B) Decrease in tax rates
C) Strong economic momentum and efficient tax collections
D) Increase in export duties
Correct Answer: C) Strong economic momentum and efficient tax collections

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Date: 2024-06-16|

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